A Peek Into The Market Before The Trading Starts

Pre-open movers

US stock futures are higher this morning, as investors are awaiting a speech by Federal Reserve Chairman Ben Bernanke. Futures on the Dow Jones Industrial Average surged 58 points to 12,145.00 and futures on the S&P 500 stock index rose 7.50 points to 1,292.50. Nasdaq 100 futures gained 10.00 points to 2,284.00.

A Peek Into Global Markets

Asian markets ended mixed, with Japan's Nikkei Stock Average gaining 0.68%, Australia's S&P/ASX 200 moving down 0.16% and China's Shanghai Composite rising 0.60%. Hong Kong's Hang Seng Index dropped 0.35% and India's Sensex gained 0.41%. European markets were higher today. The STOXX Europe 600 Index has gained 0.19%, London's FTSE 100 Index moved up 0.16%.

Broker Recommendation

Analysts at Citigroup downgraded Southern Copper Corp

SCCO

from “buy” to “hold.” The target price for SCCO has been lowered from $47 to $34. Southern Copper shares fell 11.35% to close at $30.78 yesterday.

Breaking news

Concur CNQR agreed to acquire privately held GlobalExpense, a London-based market leader in Web-based end-to-end expense management, for 12 million pounds Sterling, plus a performance-based contingent earn-out of up to 2 million pounds Sterling. To read the full news, click here.
Navistar International Corp NAV reported a 72% rise in its fiscal second-quarter profit on Tuesday. To read the full news, click here.
EnerNOC ENOC has entered into a contract with PPL Electric Utilities Corporation, a subsidiary of PPL Corporation PPL, to provide 300 megawatts of demand response capacity. To read the full news, click here.
Avery Dennison Medical Solutions, a division of Avery Dennison Corporation AVY in cooperation with Proteus Biomedical today announced a partnership focusing on patch-based wearable sensors for consumer, home health care and remote medical applications. To read the full news, click here.